10 Oct 2012

KiwiSaver disclosure proposals out for consultation

10:24 am on 10 October 2012

Proposed rules on the reporting of KiwiSaver funds have gone out for public consultation.

Draft disclosure regulations would require KiwiSaver schemes to report information on returns, fees and costs, assets and portfolio holdings, liquidity and liabilities, and key personnel.

The changes to disclosure rules were announced in Budget 2012 to further improve KiwiSaver and lift investor confidence.

The Government says it will make it easier for KiwiSaver members to make direct comparisons between funds.

Under the regulations, KiwiSaver providers will have to publish five disclosure statements per year for each fund.